Syngenta officials discuss plans for future growth
With their acquisition by ChemChina complete, top officials of Syngenta say they want to double the size of the company over the next ten years.
At a media briefing in Switzerland this week, Syngenta leadership discussed their plans for future growth in seed, biotech and crop chemicals. They say key drivers will be further expansion in emerging markets, notably China; the stepping up of digital agriculture offers; and ongoing investment in new technologies to increase crop yields.
According to a DTN report, the new business strategy will be heavy on reviving the company’s seed division. Syngenta currently has a seven percent market share in seed, behind recent industry estimates for Monsanto at 27 percent and DuPont at 17 percent.
Sygnenta officials also hinted at further acquisitions and mergers it might take to reach its goal. One possible acquisition target is Bayer’s Liberty Link seed and herbicide business. It’s expected Bayer will have to sell off its Liberty Link assets in order to gain regulatory clearance to merge with Monsanto.
Link to Syngenta news release
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